Your Almost Daily Bit of Wall Street Wit & Wisdom

right or wrong

h/t vecteezy.com

“It’s not whether you’re right or wrong that’s important, but how much money you make when you’re right and how much you lose when you’re wrong.”
— George Soros

Money management may be the most important factor in successful speculation.  A good money management plan is different for each individual.

Developing a sound approach to money management is often the overriding determinant of survival and success or failure in the market.

Best regards,

Steve

 

Your Almost Daily Bit of Wall Street Wit & Wisdom

lion

h/t NatGeo

“The courage to press on regardless of whether we face calm seas or rough seas, and especially when the market storms howl around us is the quintessential attribute of the successful investor.”
— John “Jack” Bogle

For 30 years and counting, Options Hotline’s focus is on sensible speculating more than investing.

Courage, along with knowledge, discipline, and hard work is a key characteristic of successful traders, as well as investors.

Best regards,

Steve

Your Almost Daily Bit of Wall Street Wit & Wisdom

Gold chart

Chart by Steven Sarnoff, h/t stockcharts.com

“Folks using intraday charts to call the top of a gold move that is unfolding on monthly charts is hilarious.  Y’all are doing it backwards!”
— Chris Carolan, @spiralcal

Options Hotline Update, FYI: Our recommended Father’s Day call on Barrick Gold Corporation (GOLD), emailed Sunday evening to our subscribers, triggered 06-17-19 at $85 with GOLD at $13.86, traded 06-21-19 at $206 with GOLD at $15.68, +142% in 4 days on a 13% move in the underlying shares, with an always known and strictly limited risk!

That’s the Superleverage power of my method on display.  If this is the type of options action you’re looking for, subscribe to Options Hotline today to see how we stay a step ahead of the crowd.

The character of the behavior of price movement in gold is telling us a big longer-term breakout is in play.  Former resistance (supply) now represents underlying support (demand).  The strong red candles on my weekly chart above depict this vividly.

It’s important to view price movement from different time perspectives: monthly, weekly, and daily.  Consider the lines of average price movement, along with price movement irrespective of time and you begin to approach a complete picture.

Best regards,

Steve

GOLD Gets Going

Options Hotline Update, FYI: Our recommended call on Barrick Gold Corporation (GOLD) trades +131% in 3 days, on a 12% move in the underlying shares, with an always known and strictly limited risk.

Market moves accelerated following a friendly Fed statement.  Falling Treasury bond yields are weighing on the US dollar.  This is helping boost stock prices and it benefits gold, as well.

Continue reading

Your Almost Daily Bit of Wall Street Wit & Wisdom

signal noise

h/t qualitydigest.com

“A lot of what we call signal is noise.”
— Nassim Nicholas Taleb, @nntaleb

True.  But sometimes signal is signal.  Discerning the difference is part of the art of technical analysis.

Options Hotline subscribers are seeing the application of that art pay off this morning, as gold is getting going.  Our option recommendation on Barrick Gold Corporation (GOLD) triggered 06-17-19 at $85 and is trading 06-20-19 at $190, +124% in 3 days, with an always known and strictly limited risk!

Best regards,

Steve

 

Your Almost Daily Bit of Wall Street Wit & Wisdom

h/t Shutterstock

“We typically trade our beliefs about the market, and once we’ve made up our minds about those beliefs, we’re not likely to change them.  And when we play the markets, we assume that we are considering all of the available information.  Instead, our beliefs, through selective perception, may have eliminated the most useful information.”
— Van K. Tharp

You are the most important factor in your success.  Understand and overcome your biases.  Use a trading system that’s right for you.

I believe that mind, method, and money management are the cornerstones of your complete game plan for trading success.

FYI: Our latest option recommendation, on Barrick Gold Corporation (GOLD),  is trading +30% in one day on a 2% move in the underlying shares, with an always known and strictly limited risk!

That’s the Superleverage power of my method on display.

If that’s the type of options action you’re looking for, click here to subscribe to Options Hotline today.

Let me know if you have any questions.  My email never sleeps.

Good luck in your trading!

Best regards,

Steve

Your Almost Daily Bit of Wall Street Wit & Wisdom

glider

Torrey Pines, La Jolla, California h/t flytorrey.com

“You have one hundred hours. You think you understand it. You know how to thermal, you’ve done some cross-country trips, you’ve been up to the cloud base, you’ve flown twenty miles, and you think you understand. Then you push it. Look out!”
— John Bouchard

Beware the danger of success.

Be humble.

Survival lessons in life are applicable to trading.

Best regards,

Steve